Bank Aiming for 7% to 9% Growth for 2015 to 2017 in Flat-Rate Environment

Bank of New York Mellon Corp. disappointed some investors with the new financial targets it laid out at its first investor conference in three years on Tuesday.

Between 2015 and 2017, the trust bank expects per-share earnings growth, on an operating basis, of 7% to 9% in a flat interest rate environment and 12% to 15% once rates start to pick up. “Our most important financial goal is to increase” earnings per share, Chief Financial...